Microfinance tradeoffs : regulation, competition, and financing, Vol. 1 of 1

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Microfinance tradeoffs : regulation, competition, and financing

Author:	Cull, Robert; Demirguc-Kunt, Asli; Morduch, Jonathan;	Collection Title:	Policy Research working paper ; no. WPS 5086
Country:	World;	Date Stored:	2009/10/21
Document Date:	2009/10/01	Document Type:	Policy Research Working Paper
Language:	English	Major Sector:	Finance
Rel. Proj ID:	1W-Program Research Proposal In Finance -- -- P107616;	Region:	The World Region
Report Number:	WPS5086	Sub Sectors:	General finance sector
SubTopics:	Access to Finance; Rural Finance; Emerging Markets; Debt Markets; Banks & Banking Reform	Volume No:	1 of 1

Summary: This paper describes important trade-offs that microfinance practitioners, donors, and regulators navigate. Drawing evidence from large, global surveys of microfinance institutions, the authors find a basic tension between meeting social goals and maximizing financial performance. For example, non-profit microfinance institutions make far smaller loans on average and serve more women as a fraction of customers than do commercialized microfinance banks, but their costs per dollar lent are also much higher. Potential trade-offs therefore arise when selecting contracting mechanisms, level of commercialization, rigor of regulation, and the extent of competition. Meaningful interventions in microfinance will require making deliberate choices - and thus embracing and weighing tradeoffs carefully.


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